Tashkent, Uzbekistan (UzDaily.com) -- A Government Resolution "On the harmonization of the terms for the payment and accounting of value added tax for producers of raw cotton" was adopted.

According to the Resolution:

- raw cotton of the 2023 harvest will be accepted by cotton-textile clusters entirely through electronic scales;

- it is allowed to pay and record VAT before the deadline for making final settlements for raw cotton;

- until 1 April 2026, settlements between cotton-textile clusters and agricultural enterprises (farms) and VAT accounting will be carried out in the following order:

- in case of untimely final payments for the cotton harvest by cotton-textile clusters, agricultural enterprises (farmers) that are VAT payers are given the right to pay off tax debts in installments within 3 months;

- the amount of VAT indicated in the electronic invoice for the cotton harvest received by cotton-textile clusters is allowed for accounting by agricultural enterprises (farms) after payment of VAT to the budget.

An automated accounting program will be launched on calculation and payment of the VAT in installments.